May 30, 2023
To whom it may concern:
Company name

Sansan, Inc.

Representative

Chikahiro Terada,
Representative Director & CEO(Code: 4443 TSE Prime Market)

Contact

Muneyuki Hashimoto,Director, Executive Officer, CFO

Tel+81-3-6758-0033

Sansan to Launch the Bill One Business Card
Sansan, Inc. today announced its launch of the Bill One Business Card, a corporate credit card optionalwith the Bill One cloud-based invoice management solution.
Sansan, with its mission of “Turning encounters into innovation,” provides corporate databases and otherdigital transformation (DX) solutions that reshape how people work. Its principal services, provided inJapan and internationally, are the namesake Sansan sales DX solution, Bill One cloud-based invoice
management solution, Contract One contract DX solution, and Eight contact and career management
app.
The Sansan Group, to enhance shareholder and enterprise value over the longer term, is pursuingmeasures to grow its Sansan and Bill One businesses, and to expand profitability for the Eight business.
One result of this effort is the steady growth of Bill One since the service launched in May 2020. Itsannual recurring revenue (ARR) exceeded 2.7 billion yen as of February 2023, while its functions arebeing continually upgraded and expanded to support further growth. The newly launched Bill One
Business Card, used in combination with Bill One, will further enhance accounting productivity for users,
while also providing compatibility with Japan’s Invoicing System and Electronic Bookkeeping Act whenpaying by credit card. The Group believes the benefits from this service will contribute to further net sales
growth for Bill One. See the attached materials for details.
Of note, this measure’s effect on the Group’s business performance will be realized over the medium-tolong term. The impact on consolidated results in the current fiscal year will be minimal.
Attached materials
・Press release: “Sansan to Provide Payment Services with Bill One Business Card
Already being adopted by 200 companies, speeds up monthly closing”
・Concerning the Bill One Business Card1

PRESS RELEASE

Sansan to Provide Payment Services
with Bill One Business Card
Already being adopted by 200 companies, speeds up monthlyclosing
TOKYO, May 30, 2023 – Sansan, a leading provider of digital transformation (DX) solutions that reshape howpeople work, on June 1, will launch the Bill One Business Card as an option for its Bill One invoice management
solution.
Bill One account holders can use the card with no separate fee1. Used in combination, Bill One and the Bill One
Business Card will further enhance the productivity of accounting operations, provide compatibility with Japan’s
Invoicing System and Electronic Bookkeeping Act when paying by credit card, and accelerate month-end
closing.

Background
Bill One is an invoice management service for receiving and digitizing all types of invoices, including physicalinvoices received by post and PDF invoices sent as email attachments. This speeds up month-end closing. In
the three years since its launch in May 2020, the service has reached annual recurring revenue (ARR) upward of¥2.7 billion and gained the top market share among cloud-based invoice receipt services.2
Invoices and corporate credit cards are the main methods of payment between businesses, with use of credit
cards increasing at a notably fast pace. In a Sansan survey3 on corporate credit cards, approximately half ofrespondents indicated they felt the use of services paid for with such cards has increased in recent years, andfurther increase is expected.
At the same time, administrative tasks for corporate credit cards are generally done manually, which can hamper
the speed of month-end closing procedures. The Sansan survey showed the time needed to verify documentary
proof (receipts and invoices) is a major problem for accounting operations. Moreover, with the introduction of theInvoicing System in October 2023, procedures for corporate credit cards are expected to become more complex.
This is because the system brings the need to confirm whether the documentary proof received meets therequirements for a qualified invoice.
Sansan is providing a solution to these administrative problems with corporate credit cards by offering the Bill
One Business Card to speed up month-end closing. By using Bill One and the Bill One Business Card together,companies can centrally manage administrative processes for invoices and corporate credit cards, the main

methods of payment between businesses, through the Bill One system.
Overview of the Bill One Business Card
The Bill One Business Card is a corporate credit card to accelerate month-end closing. It uses Sansan’s
accumulated digitization technologies to solve issues associated with such credit cards. The main features areas follows.
• Streamlines manual procedures for corporate credit cards
Using the Bill One Business Card allows for automatic verification of the card account statement against
documentary proof. The proof uploaded to Bill One is digitized by the end of the following business day, andthe system shows an alert if the card statement does not match the proof. This enables efficient comparison ofdata, which an accounting manager generally does visually. Also, after the card is used, the user automaticallyreceives a prompt from Bill One to upload documentary proof, freeing the accounting manager from the needto remind users to submit proof each time.
• Compliance with Japan’s Invoicing System and Electronic Bookkeeping Act
Before the start of the Invoicing System, in October 2023, Sansan plans to add functionality that will allow
confirmation of whether documentary proof received after the card is used meets the requirements for aqualified invoice. This will reduce the workload for the time-consuming system. Documentary proof submitted
after the card is used is also saved in a format satisfying the Electronic Bookkeeping Act’s requirements.
• Reduced risk of unauthorized use
Companies can set usage limits and restrict usage periods for each card, and even exclude certain types ofspending. The usage status for all issued cards is also linked in real time on the Bill One system. Thesefeatures reduce the risk of unauthorized use.
Basic Information on the Bill One Business Card
Card name:Bill One Business Card
Card brand:
Visa
Issuing partner:
Infcurion, Inc.
Card type:
Credit card (usable at regular participating merchants)
Issuance form:
Virtual card and physical card (3D Secure 2.0 compatible) (planned)
No. of cards issuable:
No limit
Fees:
No initial fee, annual fee, or issuance fee
Foreign transaction fee: None
Monthly usage limit:
100 million yen
Payment method:
Bank transfer *account transfer (planned)
Payment due date:Bank transfer on 15th of each month (on bank holidays, the following business day)*possible to change
Items digitized fromdocumentary proof:
Merchant name, total amount, currency*QIS number, consumption tax rate, consumption tax amount (planned)
Inquiries regarding functionality and use
Inquiries can be made by telephone or online form through the Bill One product website. Current Bill One
customers should contact their sales representative.
Inquiry form for the Bill One Business Card:
https://bill-one.com/lp/card/Notes
1. There is no card usage fee. Digitization of documentary proof uses the customer's Bill One license invoice
digitization quota.
2. Sansan Inc., “Bill One Cloud-Based Invoice Receipt System Gains Top Market Share in the Invoice Receipt
Services Market” (July 14, 2022) (Japanese)
3. Sansan Inc., “Survey on Corporate Card Usage” (May 30, 2023) (Japanese)Bill One – Cloud-based Invoice Management for Fast Monthly Closing
Bill One is an invoice management solution from Sansan, Inc. Through Bill One, corporate users can receive allinvoices (paper or electronic), by post or email, and then quickly and accurately digitize them for processing andapproval. Its centralized, cloud-based management modernizes inefficient, analog practices. Bill One speeds up
management’s decision-making and streamlines the monthly closing process.
About Sansan, Inc.
With its mission of “Turning encounters into innovation,” Sansan provides its namesake Sansan B2B servicepowering digital transformation (DX) in companies, the Eight career management app for individual
professionals, Bill One for cloud-based invoice management, and Contract One, the contract DX solution.
Established: June 11, 2007
Website: https://www.corp-sansan.com
Head office: Aoyama Oval Building 13F, 5-52-2 Jingumae, Shibuya-ku, Tokyo 150-0001, Japan
Capital: 6,553 million yen (as of February 28, 2023)
Business: Planning, development, and sales of cloud-based solutions that promote digital transformation andreshape how we work
Contact for press inquiries
Sansan Inc. Brand Communication Dept.
Email: pr@sansan.com

Concerning the Bill One Business Card

May 30, 2023
Sansan, Inc.

Receive, digitize & centralize your invoices. Fast
monthly closing.

Service Overview
Making all forms of invoices receivable online, while promoting digital transformation (DX) of invoice
operations through accurate digitization. After introducing Bill One, user customers can smoothly handle
various legal amendments and fast monthly closing of accounts.
Invoice issuer

Receive, digitize & centralize your invoices. Fast monthly closing.

Bill One user companies

Postal mailOne-stop receipt
EmailattachmentUpload

Digitization of invoices with 99.9%* accuracy
Centralized management by database

Responds to legal amendments, etc.

*Accuracy of digitization when conditions specified by Sansan, Inc. are met.

Released in 2020,
functions updated 1,000+ times

Bill One Growth
Rapid growth in net sales since May 2020 service launch.
ARR (as of February 2023) exceeded ¥2.7 billion.
Netof BillOneBillSales
One NetSales645(million yen)

Net Sales Up

Approx.

496

2.5×401
327

ARR as of Feb. 2023

259

¥2,748 million

14889010Q1Q223Q3FY202050Q4Q1Q2Q3

FY2021Q4Q1Q2

FY2022Q3

Adopted by 1,300 Companies
Bill One Paid Subscriptions andMonthly Recurring Sales per Paid Subscription

Bill One MRR(million yen)

Paid Subscription
Monthly Resurring Sales per Paid Subscription(subscriptions)

229
ARR
As of Feb. 2023

1,300

MRRUp

¥2,748 million

177

153.0% YoY

PaidSubscriptions UpMonthly
Recurring Sales per
Paid Subscription Up

102.2% YoY

25.7% YoY

140

1,084
930
776

¥176,000¥140,000

116

643

90455
¥91,000

58280
188

3204Aug.

Nov.

8Feb.

FY2020196MayAug.

Nov.

Feb.

FY2021

MayAug.

Nov.

FY2022

Feb.

End
Q1

53End
Q296
End
Q3

FY2020

End
Q4

End
Q1End
Q2

End
Q3

FY2021

End
Q4

End
Q1End
Q2

FY2022End
Q3

Customer Base
Acquiring customers from different business types, regardless of company size.

Bill One Invoice Service Network
Companies in the invoice network: 73,000
Amount handled: ¥16 trillion annually

Invoice network
Invoice issuer

Easy DX encourages sending
companies to use digitalformats

Bill One user companies

Digital exchange speeds
up the invoice sending
and receiving process

Information on connectionsis used to automate routing
operations

Corporate credit card for fastmonthly closing

Bill One
Business Card

Card Type

Virtual card

Physical card

Card TypeFree yourself frommanual work
Comply with laws andregulations
Lower the risk ofunauthorized use

Use of Corporate Credit Cards Is Increasing
Q. Do you feel that use of corporate credit cards has increased in recent years?
Seems to have decreased

No change

Seems to have increased

single answer

Manual procedures are a problem
for companies.

Using a Corporate Credit Card
Purchase request

Confirmation/ApprovalUser

Loaning cardUseSubmit
documentary proof

Verification

User

User

Manager

User

Manager

Accountant

User

UserAccountant

The Triple Burden of CorporateCredit Cards

The Triple Burden of Corporate Credit Cards

Follow-up manualoperations

Compliance with laws
and regulations

Preventing
unauthorized use

1. Follow-up Manual Operations
Q. What problems do you have using corporate credit cards?

Time required to verify documentary proof
against the account statement
Time required to collect documentary proof(receipts, invoices, etc.)
Card management (such as preventingloss) is time-consuming
Risk of unauthorized use by employees
Issuing cards is time-consuming
Other

Multiple answers

1. Follow-up Manual Operations
Verifying credit card
account statement against
documentary proof

Account statement

Requesting submission of
documentary proof

Documentary proof

Each item is verified
visually

Remind users for eachitem

1. Follow-up Manual Operations

An average of 4.7 days
per monthis spent collecting vouchers from applicants andreconciling application details with usage statements

2. Compliance with Laws and Regulations
Added work with introduction of new laws and regulations
Invoicing System

Revision of ElectronicBookkeeping Act

October 2021 to end ofMarch 2023

January 2022
(grace period ends inDecember 2023)

2. Compliance with Laws and Regulations
Saving the credit card usage statement and documentary proof will be
required after invoicing system is introduced
Before implementation of invoicing
systemAfter implementation of the invoicing
systemFor purchases under ¥30,000 (incl. tax), a purchasetax credit was permitted just by entering the amountin the ledger, without saving the receipt.

After implementation of the invoicing system
Receipts will be required for all purchases*, even thoseunder ¥30,000 (incl. tax). Confirmation required toensure that items that meet requirements for a qualified
invoice or qualified simple invoice are listed on thereceipt.

Credit card usage statement

Receipts, bills of delivery, etc.
*Certain exceptions apply21

2. Compliance with Laws and Regulations
Detailed requirements must be met for electronic storage
Before revision: Electronicstorage in principle (paperstorage acceptable)

Electronic(sent by email, etc.)

After revision:
Electronic storage only*

Before revision: Paper storage(electronic storage permittedwith approval from tax office)Paper(sent by post)

After revision: Electronic storage
permitted without prior approval

Requirement for electronic storage of invoices
Paper storage
ElectronicFinancialstatements

LedgerInvoices

1) Confirm correlation → Link with ledger

storage2) Confirm authenticity→ Unique3) Confirm visibility→ Legible and searchable*Grace period in effect through December 31, 2023.

3. Preventing Unauthorized Use

Management workload to mitigate risk

Solutions for issues withcorporate credit cards usingdigitization technologies

Further fast monthlyclosingSolutions for Triple Burden of Corporate Credit Cards

Streamlined
operations throughdigitization

Compliance with laws
and regulations

Reduced risk ofunauthorized use

Solutions for Triple Burden of Corporate Credit Cards

Streamlined
operations throughdigitization

1. Streamlined Operations Through Digitization
Verify usage statement with documentary proof

pendingcompletedtruefalse1. Streamlined Operations Through Digitization
Request sent to card user to submit documentary proof

uploadupload

Solutions for Triple Burden of Corporate Credit Cards

Compliance with laws
and regulations

2. Compliance with Laws and Regulations
Invoicing SystemRevision of Electronic
Bookkeeping Act
uploadTo beconfirmed

QualifiedSolutions Triple Burden of Corporate Credit Cards

Reduced risk ofunauthorized use

3. Reduced Risk of Unauthorized Use
Restrict card users, recipients and term of availability

DetailCard name/number

User name

Usage restrictions

Available period

Current month's usage/limit

StatusThe Triple Burden of Corporate Credit Cards

1. Follow-up manual operations

Furtherfast
monthly
2. Compliance withlaws andregulations
closing
3. Preventing unauthorizeduseAvailable Free to Bill One Account Holders

Free to Bill One
Account Holders

No. of cards issuable:
No limit

Available for
immediate useCapped at ¥100 Million Usage
Monthly usage limit of ¥100 million per contract company

Advertisingexpenses

Servercosts

Can also be used for advertising expenses or server costs

Companies Adopting Bill One Business Card

200 companies decided to use theservice
Service launch on June 1

Business Model for Bill One Business Card

Charge for digitization of
documentary proof

Card use fee paidby merchants

Target Gross Transaction Value for Bill One Business Card

Increase to ¥5 billion/month within a year(¥60 billion annually)Target¥5 billion / month¥60 billion / year¥600 million / month¥7.2 billion / year

Outlook for Bill One

Target ARR of ¥6.0 billion or higher
by the end of May 2024
Bill One ARR(million yen)

May 2024
ARR aim for¥6.0 billion+
May 2023
ARR aim for¥3.0 billion+
1,392
237
FY2020End Q4FY2021End Q4FY2022End Q4FY2023End Q4

Corporate credit card for fastmonthly closing

Bill One
Business Card